December 4th | $2.92 | Microsoft Partnership | Korean Volume Increases
Since our last weekly update, Iota has increased over 125%! While we were not surprised to see Iota jump back above $1.00, we did not except to see it knocking on $3.00 door just a week later. Today's volume has surpassed that of November 28th, which was one of the largest trading volume days for Iota this year.
The Iota price increase also made the news over at CNBC, stating that Iota's Data Marketplace announcement was fueling todays volume. Microsoft, Samsung, and Fujitsu are participating in the Iota Data Marketplace pilot, giving credibility to the cryptocurrency and its "blockchain-free" Tangle technology.
“ We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative. This next generation technology will accelerate the connected, intelligent world and go beyond blockchain that will foster innovation real world solutions, applications and pilots for our customers”. ~Omkar Naik, Microsoft
Korean investment into cryptocurrencies continues as CoinOne quickly moves to the number two spot in terms of Iota trading volume. Monero saw a 100% + increase when it was listed on popular Korean exchanges as well, something you may want to keep in mind during your trading.
We are still waiting for more announcements from Iota throughout the month of December, and our looking forward to a potential update with VW.
November 28th | $1.25 | CoinOne Exchange | Data Marketplace
The Iota price has seen a rapid increase in price over the last few days, rocketing nearly 70% to all time highs. Iota has not seen this price level since the summer of 2017, when it rallied over 300% during the first 14 days of August. The reversal came at around the $1 mark soon thereafter, and declined for 3 months to the $0.35 support level.
The Iota foundation seems to have held their largest announcements for the end of the year. The Iota price rally can be attributed to being listed on more exchanges such as Binance and CoinOne, one of the leading Korean exchanges. You can read our article on how to buy Iota here.
Iota also announced its partnership with Lattice80, the world's largest FinTech Hub, to foster adoption and innovation with IOTA in the FinTech sector. Iota's inclusion into this new innovation lab will help set the framework for Iota and its IoT infrastructure.
“With the government’s proactive approach towards blockchain and DLT, we think that Singapore is a strategic market that enables us to engage with the local ecosystem and show the future of IOTA and IoT.” ~Dominik Schiener, Co-founder, Chairman of the IOTA Foundation
The Iota foundation also announced the Iota Data Marketplace on November 28th, 2017. This Data Marketplace will decentralize the vast amounts of information that are currently under lock and key. Connected devices and the IoT marketplace is set to explode over the next decade, and Iota is looking to become the backbone of the entire ecosystem.
“The goal is to enable a true decentralized data marketplace that opens up the data silos that keep data limited to a few entities as is the case today. Data is one of the most imperative ingredients in the machine economy and the connected world.” ~Iota Foundation Blog
Iota's unique Tangle technology allows for zero fee transactions, unlike a typical blockchain. Zero fee transactions will pave the way for the upcoming machine economy. Examples such as electronic vehicle charging stations can be run fully on Iota are just some of the first use cases.
“IOTA has resolved the three major issues of blockchain — fees, scaling limitations and centralization — and built up real-world partnerships and projects with world-leading companies since 2015.”~David Sonstebo, co-founder of Iota
There are many leading companies that will be participating in the Iota Data Marketplace, bringing with them various forms of data to be deployed on the test network.